Date: August 26, 2026
Regulatory Action & Fine Details
BF Utilities Limited received an email dated August 25, 2026 from National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) regarding non-compliance with Regulation 17(1) of SEBI Listing Regulations. The specific violation pertains to the composition of the Board, including failure to appoint an Independent Woman Director.
Both exchanges levied a fine of ₹1,82,900 each (inclusive of GST) for this non-compliance. The due date for payment was September 09, 2026 (15 days from receipt). The company paid both fines in full on August 26, 2026, with no delay or default in payment.
Compliance Status and Remedial Actions
The company clarified that it is in the process of identifying a suitable candidate to fill the vacancy caused by the completion of tenure of an Independent Director. The candidate sought should be a person of integrity with relevant expertise and experience. This appointment would help the company comply with the provisions of Regulation 17 and Regulation 17(1)(c) of SEBI Listing Regulations, 2015.
Financial and Operational Impact
The disclosure explicitly states that there is no material impact on financials, operations, or other activities of the company due to this regulatory action and fine payment.
Disclosure Basis
This disclosure is made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Circular no HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.